Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage presently has a $9.25 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 15.05% from the stock’s previous close.
According to Zacks, “Achillion a development-stage company is focused on the development of potent and specific complement factor D inhibitors for rare and other diseases. The complement-mediated disease area has significant commercial opportunity and represents upside potential for the company. Meanwhile, the deal with J&J for its HCV portfolio provides Achillion with a strong and experienced partner and will also bring in funds. It also allows the company to focus on its complement Factor D pipeline. However, we remain concerned about the early-stage nature of the complement Factor D pipeline. Moreover, competition in the HCV market continues to increase. Estimates have been mixed lately ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
Other research analysts have also issued reports about the company. Leerink Swann reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a report on Sunday, June 12th. Jefferies Group reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a report on Tuesday, August 9th. JMP Securities raised Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a report on Thursday, July 7th. Chardan Capital upped their price objective on Achillion Pharmaceuticals from $4.00 to $5.00 and gave the company a “sell” rating in a report on Friday, September 23rd. Finally, FBR & Co assumed coverage on Achillion Pharmaceuticals in a report on Thursday, September 15th. They issued an “outperform” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $10.73.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 1.057% during mid-day trading on Tuesday, hitting $7.955. The stock had a trading volume of 465,726 shares. The company has a market capitalization of $1.09 billion, a P/E ratio of 162.347 and a beta of 2.10. The stock’s 50-day moving average price is $8.35 and its 200 day moving average price is $8.46. Achillion Pharmaceuticals has a 1-year low of $5.57 and a 1-year high of $10.95.
Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same period last year, the business earned ($0.25) EPS. On average, analysts predict that Achillion Pharmaceuticals will post ($0.61) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors increased its position in Achillion Pharmaceuticals by 2.3% in the first quarter. BlackRock Fund Advisors now owns 4,573,313 shares of the biopharmaceutical company’s stock valued at $35,306,000 after buying an additional 102,179 shares in the last quarter. HBK Investments L P purchased a new position in Achillion Pharmaceuticals during the first quarter valued at approximately $455,000. Schonfeld Strategic Advisors LLC purchased a new position in Achillion Pharmaceuticals during the first quarter valued at approximately $101,000. Swiss National Bank increased its position in Achillion Pharmaceuticals by 1.9% in the second quarter. Swiss National Bank now owns 189,100 shares of the biopharmaceutical company’s stock valued at $1,475,000 after buying an additional 3,600 shares in the last quarter. Finally, Columbus Circle Investors increased its position in Achillion Pharmaceuticals by 46.0% in the second quarter. Columbus Circle Investors now owns 110,174 shares of the biopharmaceutical company’s stock valued at $859,000 after buying an additional 34,720 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
About Achillion Pharmaceuticals
Achillion Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s primary business is to discover, develop and commercialize small molecule therapeutics for the treatment of infectious diseases and immune system disorders. The Company is focused on its complement inhibitor platform, directed at advancing small molecule compounds that have the potential to be used in the treatment of immune-related diseases associated with the complement system.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Achillion Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Achillion Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.